India provides 250 million dollars to Maldives

 

Agency: India has reportedly agreed to provide a loan assistance of around 250 million dollars to the Maldives to help the island nation revive its economy hit hard by the Covid-19 pandemic.

The Maldives, which is a popular tourism destination, has been badly affected by coronavirus.

Although international flights were opened from July, tourists have not been able to travel to the Maldives. Maldivian President Ibrahim Mohammad Solahi requested India’s Prime Minister Narendra Modi for loan to overcome the economic crisis.

“India has always risen to the occasion whenever Maldives needed a friend. My sincere thanks to PM Narendra Modi government and people of India for their neighborly spirit and generosity following the official handover of USD250 million as financial assistance today,” Solahi tweeted.

Maldives’ foreign minister Abdulla Shahid welcomed the assistance from India. He said that the loan would be of great help for the country’s immediate needs.

Foreign Minister Shahid tweeted “Grateful to receive the USD 250 million financial assistance from India to the Maldives today. The financial assistance provided through subscription in GoM Domestic Treasury Bonds by SBI will support the financing of the revenue gap, and meet the Gov’s immediate financing needs.”